|
|
 |
|
Viewing report
|
|
|
|
Bulletin: S&P Comments On CECA As Swap Counterparty In Some Spanish Securitizations
Standard & Poors, April 2009
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
MADRID (Standard & Poor's) April 8, 2009-Standard & Poor's Ratings Services said today that it is reviewing those Spanish securitizations that have replaced ineligible counterparties acting as a derivative swap counterparty with Confederacion Espanola de Cajas de Ahorros (CECA; AA-/Negative/A-1+). The counterparty replacements were made because the existing counterparties had become ineligible. Last year we lowered to 'A-2' the short-term ratings on some financial institutions acting as derivative counterparties in several Spanish securitizations. The rating on those affected entities had fallen below the rating required for derivative counterparties according to our criteria. In the process of reviewing the swap contracts we have noted that certain events of default of the Contrato Marco de Operaciones Financieras (the framework for swap contracts...
Companies mentioned in this report are: AyT 11 Fondo de Titulizacion Hipotecaria,Hipocat 7, Fondo de Titulizacion de Activos,Hipocat 8, Fondo de Titulizacion de Activos,Hipocat 9, Fondo de Titulizacion de Activos,Empresas Hipotecario TDA CAM 3, Fondo de Titulizacion de Activos,Hipocat 10, Fondo de Titulizacion de Activos,AyT Hipotecario Mixto V, Fondo de Titulizacion de Activos,TDA CAM 7, Fondo de Titulizacion de Activos,AyT Caja Murcia Hipotecario II Fondo de Titulizacion de Activos,FTPYME TDA CAM 4, Fondo de Titulizacion de Activos,Hipocat 11, Fondo de Titulizacion de Activos,TDA CAM 8, Fondo de Titulizacion de Activos,AyT CajaGranada Hipotecario I Fondo de Titulizacion de Activos,TDA CAM 9, Fondo de Titulizacion de Activos,EMPRESAS HIPOTECARIO TDA CAM 5, Fondo de Titulizacion de Activos,TDA CAM 10, Fondo de Titulizacion de Activos,Hipocat 15, Fondo de Titulizacion de Activos
Action: Bulletin
|
|
|
|
